CT REIT Announces Offering of $200M 4.292% Series J Senior Unsecured Debentures due June 9, 2030

CT REIT Announces Offering of $200M 4.292% Series J Senior Unsecured Debentures due June 9, 2030

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TORONTO, May 21, 2025 /CNW/ - CT Real Estate Investment Trust ("CT REIT") (TSX: CRT.UN) announced today that it has agreed to issue, on a private placement basis in each of the provinces of Canada (the "DebentureOffering"), $200 million aggregate principal amount of series J senior unsecured debentures with a 5-year term and a coupon of 4.292% per annum (the "Series J Debentures"). CT REIT intends to use the net proceeds of the Debenture Offering for the repayment of existing indebtedness.

The Debenture Offering will be on an agency basis led by CIBC Capital Markets, BMO Capital Markets and RBC Capital Markets. Subject to customary closing conditions, the Debenture Offering is expected to close on or about June 9, 2025.

It is expected that the Series J Debentures will be rated "BBB" with a stable trend by Morningstar DBRS. The Series J Debentures will be direct senior unsecured obligations of CT REIT.

The Series J Debentures offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series J Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About CT Real Estate Investment Trust

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of over 375 properties totalling more than 31 million square feet of GLA, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT's most significant tenant. For more information, visit ctreit.com.

Forward–Looking Statements

This press release contains statements and other information that constitute "forward-looking information" or "forward-looking statements" under applicable securities legislation (collectively, "forward-looking statements") that reflect CT REIT's current expectations relating to future events, including but not limited to the credit rating expected to be given to the Series J Debentures, the use of proceeds of the Debenture Offering and the date the Debenture Offering is expected to close. By its very nature, forward-looking information requires the use of estimates and assumptions and is subject to inherent risks and uncertainties. It is possible that CT REIT's assumptions, estimates, analyses, beliefs, and opinions are not correct, and that CT REIT's expectations and plans will not be achieved. For more information on the risks, uncertainties, factors and assumptions that could cause CT REIT's actual results to differ from current expectations, refer to section 5 "Risk Factors" of CT REIT's Annual Information Form for fiscal 2024, and to sections 12.0 "Enterprise Risk Management" and 14.0 "Forward-looking Information" of CT REIT's MD&A for Q1 2025 and fiscal 2024, as well as CT REIT's other public filings, all of which are available at sedarplus.ca and at ctreit.com. CT REIT does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by it or on its behalf, to reflect new information, future events or otherwise, except as required by applicable securities laws.

SOURCE CT Real Estate Investment Trust (CT REIT)